UniQuest and Axiom Molecular sign radiopharma strategic alliance

UniQuest, The University of Queensland’s (UQ) main commercialisation company, has announced a $4.3 million strategic alliance with Axiom Molecular in radiopharmaceutical research, development and commercialisation.

The Centre for Advanced Imaging (CAI) at UQ will allow Axiom Molecular to use its facilities to produce positron emission tomography (PET) radiopharmaceuticals for diagnosing cancer and brain disorders.

Axiom Molecular has also made an equity investment in MoleQular, a start-up company formed with UniQuest, to research, develop and commercialise novel radiopharmaceuticals.

UniQuest Managing Director David Henderson said the agreement was the first of its kind for both UQ and Axiom Molecular, a subsidiary of one of Asia-Pacific’s largest healthcare enterprises.

“It’s a multifaceted agreement that will advance the scientific and commercial objectives of all stakeholders,” he said.

“Axiom Molecular will use CAI facilities to produce radiopharmaceuticals to international standards, predominantly 18-Fludeoxyglucose (FDG).

“CAI researchers will be able to use the laboratory area which Axiom Molecular enhances to a good manufacturing practice (GMP) environment. This will enable the CAI with GMP capability for its own research as well as research collaborations with other Australian researchers and biotechnology companies.

“Axiom Molecular will also fund scholarships for Research Higher Degree students at UQ, which demonstrates a clear commitment to ongoing research in radiopharmaceuticals, one of the fastest growing nuclear medicine fields in the world.

“Radiopharmaceuticals are becoming increasingly important for early detection of diseases like cancer and for developing new treatments. The formation of MoleQular and the strategic alliance with Axiom Molecular reflects the commitment of UQ and the CAI to work closely with private industry to make world-class university research and infrastructure available for the benefit of society.”

UniQuest will license a radiopharmaceutical technology, which was discovered by CAI researchers, to MoleQular. The start-up will fund several radiopharmaceutical research and development projects at UQ.

MoleQular, with the benefit of Axiom Molecular’s expertise in the production, sales and distribution of commercial radiopharmaceuticals, will be responsible for commercialising the outcomes from the R&D projects. Joint teams will oversee and steer the development and commercialisation process.

Axiom Molecular’s Managing Director, Mathew Farag, said the strategic alliance with the CAI would deliver a major objective of Axiom Molecular’s larger strategy to supply radiopharmaceuticals to public and private hospitals throughout Australia and the Asia-Pacific region.

“We quickly recognised the strengths in the capabilities and people within the CAI, and through business discussions with UniQuest, we came to see how we could realise additional value in our relationship with UQ,” Farag said.

“The outcome is this innovative alliance with UniQuest, including our corporate venture investment in MoleQular, which has the potential to deliver a number of new technologies and products to the global radiopharmaceutical market.”

Director of the CAI Professor David Reutens said his team was delighted to have Axiom Molecular as a long-term collaborative industry partner.

“I am also excited by the alliance because UQ is the lead institution of the National Imaging Facility,” he said.

“This agreement will provide researchers around the country with access to a radiopharmaceutical GMP capability to test new radiopharmaceuticals.

“This collaboration adds considerable value to the CAI, which has received funding not only from UQ but also from federal and Queensland Government.

“Strong industry collaborations mean that world-class CAI research has a better chance of being commercialised, contributing to personalised medicine around the world.”